SELL, SELL, SELL! Why you should SELL Bitcoin NOW!!!
Just kidding, don't sell all your Bitcoin... only sell what you purchased for anything over $1,000 as it's likely to drop below that level before August 1. If/when the price does go down to $1,000, I'd recommend those who bought in at $800 to sell (may as well lock in some profits before it drops to $500 and buy back at that level). And if/when it drops to $800, I'd recommend those who bought in at $500 to sell for the same reasons... get the drift?
The reality is 'trading' bitcoin is totally different to trading stocks... stocks represent ownership of companies... companies produce stuff and pay dividends so they have intrinsic value... bitcoin has no intrinsic value... it's "value" is simply the hype that surrounds it, luring people into buy in so the price keeps going up. It doesn't produce any goods or services that people can buy and will never pay a dividend so intrinsically it's worth nothing.
Too many people misunderstand cryptocurrecies and money in general, if you're interested in a different perspective, read this:
https://edwineconomics.com/2017/07/15/the-inconvenient-truth-about-bitcoin/
Crypto IS THE FUTURE, but a future based on crypto money is still a long way ahead.
Be informed.
So I sell and if it will not gobelow 1000$, I am mostly out of the game. This post is missleading. You only loose money, when you panic and sell your Bitcoins. 1 Bitcoin stays 1 Bitcoin, even during times like that. The "value" is not the hype but its scarcity. Gold for example might have explicit intrinsic value, but for 99,9% of people this intrinsic value is useless. it is its natural scarcity what makes it value. The amount is naturally limited by its nature and to it takes a lot of costs to mine it. Both facts apply to Bitcoin
Edit: Follow and upvote. looking forward to more independent posts like this
Hi @manonlescaut, why is bitcoin any superior to the 700 other crypto's out there? many of them claim to have better features/scalability/security compared to bitcoin? Bitcoin is leading the pack because it was first and the best known (gets more media attention etc) but other than that what differentiates it from the rest?
I'd be interested in your comments on this: https://edwineconomics.com/2017/07/15/the-inconvenient-truth-about-bitcoin/
Some flaws I've identified in Bitcoin that no one is talking about...
Its maturity. Bitcoin has been "dead" many times already and arose from each death stronger. Lessons learned! Other cryptos didn't have the opportunity yet to learn some lessons from real life.
I like to take advantage of flash sales
could be a great opportunity to buy, the question is when? still 2 weeks to go before the fork and already the price has fallen 30%... how far will it go?
If you're in it for the long run I would say anytime is a great time to buy, these prices are VERY LOW compared to what I think they will be in a couple years.
Just sell now and buy in when it drops. This is just a big market correction after the price skyrocketed and people are scare selling so the price is dropping even more.
Congratulations @edwineconomics! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!